PDURATION Function Explained
The PDURATION Function in Microsoft Excel calculates the number of periods required to pay off a loan or to reach a target amount given the present value, periodic payment, and interest rate. It takes three arguments: present_value, payment, and interest_rate.
PDURATION Function Syntax
PDURATION(rate, present_value, future_value, [basis])
- rate: The interest rate per period.
- present_value: The present value of the investment.
- future_value: The future value of the investment.
- basis: (Optional) The type of day count basis to use. The default value is 0 (US (NASD) 30/360).